Stellar Price Surge: Technical Pattern Hints at $1+ Target

Stellar Price Surge: Will XLM Hit $1 or $10?

Aligning with the overall positive trend in the crypto market, XLM has been experiencing a notable uptrend. The Stellar price surge has significantly caught the traders’ attention as analysts remain more optimistic about the cryptocurrency’s potential bull run. According to technical analysis, experts foresee the cryptocurrency surpassing $1 soon, with a potential long-term target of $10.

Stellar Price Surge Analyzed: Is $1 in Sight?

In a recent X post, expert Ali Martinez shared an optimistic view of the XLM token. Identifying the formation of an inverse head and shoulders pattern on the crypto chart, the analyst hinted at its potential breakout. As per Ali's analysis, the current price surge will continue until it surges above the pivotal $1 mark soon.

Another prominent analyst, STEPH IS CRYPTO, shared a more bullish perspective on the coin. Using Elliot Wave Theory, STEPH IS CRYPTO spotted the coin’s potential to maintain this bull run.

His analysis suggests that the altcoin is expected to follow a five-wave pattern, where Waves 1 and 2 have already unfolded in 2024. Wave 3 is slated to drive a significant price increase in early 2025. Subsequently, Wave 4 will bring a corrective phase, marked by a downtrend in mid-2025. Ultimately, Wave 5 is projected to spark a strong upward movement, potentially extending into 2026 and reaching new price targets for XLM.

As of press time, Stellar is trading at $0.4118, up 6.7% in a day. Despite its positive performance over the past 24 hours, the altcoin has seen notable dips of 3% and 4% over the last week and month, respectively.

However, the one-day hike is further bolstered by the bullish traders’ sentiment. The 24-hour trading volume of the crypto has increased by a staggering 135% to hit a massive $158 million.

Can XLM Hit $10?

Interestingly, the XLM community is growing increasingly optimistic about the token. Analysts within the community remain confident that the prevailing Stellar price surge will continue until an ambitious target of $10 is attained. While the $1 level is a key near-term target, the lofty $10 mark represents a long-term aspiration for the token.

As the Stellar price surge continues to capture attention, the question remains: can the digital asset sustain its momentum and reach $10? With analysts predicting a potential breakout and the community growing increasingly bullish, the future looks bright for this promising altcoin.